All it takes is ONE bang up month of job growth before Nov 6th and the entire media complex will pump it up to the sky to help Obama.
Um....lol
Soooo..an increase of 290,000 jobs over June
Just gotta write it down to compare 8/3
Bet most of it is from the North Dakota and Texas Oil Patch.
Has there EVER been any doubt that the unemployment rate in the Oct/Sept timeframe would MAGICALLY drop below 8.0% no matter what it takes to fudge the numbers. Just simply eliminate a few million more from the workforce ane voila....
Taking a 10 nday read on data to guage and then propose a job increase possibilty of the magnitude they suggest is insane.
Any kind of big increase would be viewed as total BS just because every other indicator on the economy is headed straight down.
Has anyone seen the latest ADP Payroll numbers? Not sure when they are released but they are somewhat accurate. This withholding tax thing is totally new to me.
If true, Obama will deserve none of the credit. Moreover, we have every right to view with extreme skepticism any sudden improvement of the government’s employment statistics.
The increase in withholding isn’t due to more jobs... it’s due to people cashing in their capital gains in 2012 since it appears that the captital gains tax rate will go up SIGNIFICANTLY in 2013. At a minimum they will go up by the 3.8% Obamacare Tax... significantly more if the Bush Tax Cuts are allowed to expire.
When you cash in stock or other investments which have a capital gain, there is withholding taken out for Federal Income Tax. This is where the increase is coming from.
I thought the auto industry didnt take a 2 week shutdown this year compared to last year.
As with others, I expect the numbers to be manipulated to provide a boost to Obama starting in September. I hope the GOP has some knowledgable, sharp-eyed quants watching this data.
maybe people are just increasing their withhholding to get ready for taxmageddon
I know I did
Unemployment benefits are taxable.